Like father, like son? Rand Paul says he's "thinking about" 2016

Since then, Paul has said he's "seriously" considering a bid in 2016, and CPAC represents an opportunity for the Kentucky senator to appeal to his party's most fervent conservatives. Libertarians have also made a strong showing at CPAC in the past, often in support of Paul's father, former Republican presidential candidate Ron Paul, R-Tex.

Sen. Rand Paul, R-Ky., said Wednesday he was "thinking about" running for president in 2016, potentially following in the footsteps of his father, former Rep. Ron Paul, R-Texas, who sought the Republican nomination for president in 2008 and 2012.

"I do want to be part of the national debate," Rand Paul said in an interview with USA Today . "I want to be part of deciding what the Republican message is and who the Republican leaders are."

In his first term in office, Paul has made a name for himself as a tea party favorite with many of the same libertarian leanings as his father.

"I think the Republican Party is in danger of becoming a permanent minority party if we keep going in the same direction we are going," Paul said. "We're no longer competitive on the West Coast or in New England, but I think we could be with a little more of a libertarian bent."

Following President Obama's State of the Union address and Florida Sen. Marco Rubio's Republican response Tuesday night, Paul delivered a speech that was billed as the official tea party response. He made sure to take on both Democrats and Republicans.

"Both parties have been guilty of spending too much, of protecting their sacred cows, of backroom deals in which everyone up here wins, but every taxpayer loses," he said. "It is time Democrats admit that not every dollar spent on domestic programs is sacred. And it is time Republicans realize that military spending is not immune to waste and fraud."

Also today, Paul announced he would place a hold on the nomination of John Brennan to be CIA director until he gets further answers to questions about the Obama administration's use of drone strikes to combat terrorism.